The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-04-09
.R.G. dun & Co. REVIEW
OF TRADE IN ALL BRANCHES
DURING THE WEEK.
The Interstate Commerce Law Caus-
es q Great Disturbance In
General Business.

NEW Y RK, April S-R. q. Dun &
Co., in their weekly review Of trade
says: "lhe interstate commerce act
causes quite as much disturbance fs
was anticipated. Shipments in the
aggregate enormous for q stribution
beyond Chica2o have to be rebilled
there; merchants aud manufacturers
find rats raised from 80 to 80 per cent.
on ma ~ dis ant shipmen's; Paclfi ,
lines cOmplain that the transcontin-
mental traffic is rendered impossible
unless they ere exempted; the associ-
alton Of twenty-seven Southern roads
and lines have already obtained tenn.
porary exemption, because of coCse-
quent interruption of tariff. Northern
lines, competing with lake. or Canadi-
an trsnsporters, claim equal needs and
interior roads cite large shipments OF
-four down the Mississippi, because
through rail rates are raised. Coal
rates increase cost Of fuel 81 per ton
about Philadelphia; charges in iron
disturb the trade, and may close some
furnaces These are but few OF the
difficulties which the Commission is
expected to examine and in some way
to remedy but the question is, How far
i1 it able2
General business is fairly active,
though dullnees is the complaint at
some points.
The output of iron for the fret quar-
ter of 1887 10 reckoned al 1,66S,036
tons, which is at rae of 1915 per
cent. over last years productions, yet
present demand 10 sack.
New Orleans fnds freight handling
embarrassed by labor discussions, and
trade dull there; active at Mobile and
Montgomery; active at Birmir CHAM,
proving at Louisville except IN die.
tilling, and quite active and hopeful al
Milwaukee since the defeat of ths La
Dor ticket.
Money is generally in good supply,
though growing scarce at Cleveland
and needed at Milwaukee, on account
of slow collections. From most poiuts
collections are reported reasonably
prompt.
There is a growing reel estate specu.
lstion, especially at Cincinnati and
Louisville, and AZ other Western c.tieF,
and new manufl Cturing centers at the
South. Not a few prudent men doubt
whether there is not an undue
expansion of credits, resulting
from speculative activity, aud caution
in that direction is certainly warrant
cd. la the grsater markets, specula
ton lie spssmodic. Wheat has ed
vanced one cent; corn and ats change
little; hogs and lard are lower oil hat
a spasm Of activity for two days, bu
closes less then one cent higher thar
last week; tin RECEIVERS little after
decline, AID copper, iron, sugar, anC
wool are unchanged. Coffee has riser
4c and cotton 1-16c. Stocks declined
sharply when Wall street real ed that
the long expected disturbances in con
sequence of the interstate act had ac
tually commenced, and then recover
ed little on suspension of the act by
the Commission in favor Of Southe I
roads. Flutries OF stringency in th'
money market have continued, bu'
the Treasury has poured out 81 200, 00I
gold during the week, 81 900, 0O0 silve
| anu F1pOOVjOOo lCkNl tCuuCIb III cACCb
OF its receipts. lis rapid initiation o
currency prevents pressure, but con
tributes TO the expansion of cred
its already noticed. Foreign exchanges
have been undisturbed, sud no fesr O
exports OF specie is felt. Exports o
produce continue satisfactory, snd the
enormous revenue of the government
for March, greater than for any
other month in many years, ia evi
dence OF business activity, though il
shows how considerable the conlrac
ton OF currency must be after July
Let, unless the Treasury consents to
pay high premium for bonds not
due. The business failures during the
last seven days number: For the
United States, 1893; for Canada, 70
total, 223, against 223 last week and
2l5 the corresponding week Of 1886
Failures in all sections OF the
country are about up to the average,
except in New York city, where .he
assignments number only ak, which
were unimportaut.